Monitoring certifications or designations of financial advisors who serve seniors and alerting the Securities Exchange Commission and state regulators of certifications or designations that are identified as unfair, deceptive or abusive;

Making legislative and regulatory recommendations to Congress on best practices for disseminating information to seniors regarding the legitimacy of certifications and designations, and methods through which a senior can identify the financial advisor most appropriate for the senior’s needs; and

Conducting research to identify best practices for educating seniors on personal finance management in order to develop goals for programs that provide financial literacy and counseling to seniors.

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http://www.theshriverbrief.org/2012/08/articles/asset-opportunity/help-protect-elders-from-economic-abuse/Asset Opportunityconsumer protectionfinancial servicesseniorsThu, 16 Aug 2012 13:48:51 -0600Karen K. HarrisMedicare Improving FastThere is an intense debate over Rep. Paul Ryan’s (R. WI) proposal to scrap Medicare and turn it into a voucher program shifting costs to seniors, a debate that became even more intense when it was passed by the Republican-controlled House of Representatives. The Senate has not passed it, and the President has registered his opposition. The American people are also firmly opposed.

Here is what happened in 2010 and is about to happen in 2011 in Medicare under the Affordable Care Act. The numbers apply to Illinois, but the same impact is happening everywhere in America.

Prescription drugs are more affordable. In 2010, 152,170 Illinois residents hit the Medicare prescription drug “donut hole” and received at $250 rebate check to defray their costs. Across the state, this came to $38 million in savings for seniors. In 2011, everyone in Illinois who hits the donut hole will receive a 50% discount on their brand name and generic prescription drugs. As of March, Illinois Medicare beneficiaries who had triggered into this benefit were getting about $800 a month in savings.

This is a story typical of many things in the Affordable Care Act. Improvements to the system are constantly rolling out, but the general public remains unaware of them. In part, this is because the subject matter is complex and hard to absorb unless you are directly affected. And in part it is a deliberate strategy of the opponents to keep the focus elsewhere and downplay the accomplishments of the law as they endeavor to repeal it and roll back its benefits. The intense reaction to Rep. Ryan’s proposal shows that at least the people directly affected – seniors who depend on Medicare – are well aware of the increasing quality of their program.

An earlier version of this blog post inadvertently referred to Rep. Paul Ryan as "Jack" Ryan. This has been corrected, and we apologize for the mistake.